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GBP/USD trading - UK manufacturing production - 09 June 2017

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GBP/USD trading chart 9 June 2017
4.5/5 of 4 ratings

The yesterday events justified our forecasts

In the Senate, James Comey virtually abandoned all of his previous allegations against Donald Trump. In the UK, according to preliminary data, the Conservatives receive 322 seats, Labor 261, the Scottish National Party 32 seats, the Liberal Democrats 11.

Theresa May lacks 12 seats for the constitutional majority

The parliament will turn out to be technical, the whole idea with re-elections turned out to be a losing tactic. The Labor has already said that they will seek the resignation of May. In the morning, the pound loses 220 points. But today, markets can get a little support in the form of macroeconomic data.

In the UK, industrial production is expected to grow by 0.7% in April. The manufacturing production may grow by 0.8%. The construction output is projected to grow by 0.3%. The trade balance of the UK could reduce the negative balance from -13.4 billion pounds to -12.0 billion.

How we trade binary?

We would buy Call binary options with 20:00 GMT expiry if a one hour candle closes above the 1.2770 level. If our first target is not reached and the price goes below 1.2690, the first scenario would be invalidated. We would buy Put options if a one hour candle closes below the 1.2690 level.

Asset: GBP/USD
Direction: Call
Target price: 1.2770
Expiry time: 20:00 GMT


Jannik P.'s picture

Target Price: 1.2770
Close Price: 1.2731
Direction: Call
Expiry Time: 20:00 GMT
Result: NT

Jannik P.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.

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